Core Ignition Drop Claiming Guide

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 The Core Ignition Drop, which started the rewards claim on June 10, 2024, allows Coretoshis (Core Community) to unlock incentives for their contributions and engagement in the Core Blockchain. The Incentives claimed by the participating community are based on their activities up from the day they join the program until the snapshot is taken. In this article, I will discuss how to participate in the Core Ignition Drop, its benefits, and more. What is Core Ignition? Core ignition is an incentive program developed by the Core Foundation to jumpstart the growth of the DeFi ecosystem on Core Blockchain, the program started on March 11th, 2024, and will continue for six months, providing ample time for users to participate and reap the benefits, rewarding the community for their contributions to the network. By participating, users can earn rewards while simultaneously helping to fuel the growth and adoption of the Core ecosystem. The Core Ignition Program is for both ecosystem users and We
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Breaking: CoreDAO launches Non-custodial Bitcoin Staking (coreBTC)

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 In 3 days countdown to 2024 Bitcoin halving, CoreDAO developers launched Non-custodial BTC staking on Core Chain!

For the first time ever, Bitcoin holders can earn yield on their BTC directly within the Bitcoin Network, without needing to move, or hand over custody of their coins.

Non-custodial: BTC holders hold their BTC in their wallet

BTC Staking: BTC holders earn with their BTC without giving up custody of their BTC, holders can lock up/stake their BTC on the Bitcoin Network to participate in Core Chain's security and earn CORE coin rewards using coreBTC.

What is coreBTC?

coreBTC is a native wrapped Bitcoin on the Core Chain, maintaining a 1:1 peg with BTC through a secured and trustless mechanism. It allows Bitcoin users to interact seamlessly with the DeFi space on the EVM-Compatible Core Chain using their BTC assets, expanding Bitcoins's functionality within the DeFi landscape without compromising inherent security.

Unlike the regular centralized wrapped tokens like WBTC which rely on a custodian to hold the underlying Bitcoin, coreBTC operates through a decentralized infrastructure. It involves permissionless participants such as lockers, Guardians, and Liquidators, ensuring enhanced security and integrity without relying on central custodians. This structure aligns with the decentralized ethos of blockchain, mitigating entities.

How is the safety of BTC on the Core Chain?

The security of the holder's BTC in the coreBTC system is assured by over-collateralization required from Lockers and the continuous monitoring by Guardians and Liquidators. This structure ensures that the locked BTC is always backed by sufficient collateral on the Core Chain, safeguarding against mismanagement or value drops. The decentralized nature of this ecosystem also contributes to its reliability and security.

Also, Core Chain protocol and coreBTC's security have been thoroughly audited by Halborn, a SOC2 Type 1 compliant firm renowned for its smart contract security expertise and trusted by leading Blockchain platforms like Ava Labs, Solana, and Polygon, as well as DeFi projects like Sushiswap. As stated in the coreBTC FAQs.
Find out more about coreBTC here.

The launch adds to BTC's utility and strengthens Core Chain's security and Bitcoin alignment, according to the Coredao X handle.

About Core Blockchain

Core Chain is a new layer 1 blockchain built on the Satoshi Plus Consensus Algorithm consisting of a combination of Bitcoin's security and Ethereum's scalability by an anonymous group of blockchain developers named CoreDAO. 

The CoreDAO's mission is to build the strongest and most inclusive community on the web 3. 



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